- The country's economy expanded by 0.2% in Q4 (an annual rate of 0.8%) vs. expectations for a flat read. For the full year, GDP grew 1.2%, down from 2.5% in 2014.
- Final domestic demand fell 0.2% in Q4. Exports slid 0.6% and imports by 2.3% - the third consecutive decline.
- Though the headline number was better than hoped, it was boosted by the sharp decline in imports (which helps GDP), notes PNC's Bill Adams. Nevertheless, the likelihood of a BoC rate cut this year continues to fall.
- The loonie (NYSEARCA:FXC) is stronger by 0.5% vs. the greenback.
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